VANCOUVER, Aug. 5 /CNW/ - CanAlaska Uranium Ltd. (TSX.V - CVV)
("CanAlaska" or the "Company") has received additional results from drilling
at the Platt Creek conductive trend on the Black Lake project, located within
the Black Lake Denesuline First Nation Reserve on the northern rim of the
Athabasca Basin, Saskatchewan - see Figure 1.
The winter-spring drill program intersected the main conductive horizon
in the north, where it was associated with elevated uranium values to 12 ppm,
strong boron enrichment and extensive hematization of the splay fault offsets
- see News Release - June 5, 2009.
During further spring drilling in the southern target area, the fence of
three holes did not intercept the conductor, but the eastern-most drill hole
intersected 140 ppm uranium just below the unconformity in a 20 metre zone of
elevated nickel response (to 1,000 ppm Ni). All the southern drill holes
showed geochemically-elevated nickel and boron in the 20 to 50 metres of
basement immediately below the unconformity. Drill hole BLK007 also contained
anomalous boron in the lower 60 metres of sandstone which is confirmed by the
presence of visible dravite. The elevated geochemical signature in these holes
is indicative of a favourable hydrothermal mineralizing system.
The fourth hole in the southern zone also failed to intersect the main
conductor. However, subsequent down-hole EM surveying located a conductive
target approximately 25 metres from the termination of the hole. This
conductor lies between hole BLK009 and hole BLK010 - see Figure 2.
The drill program at Black Lake is following-up on geological and
geophysical targets identified from a prospecting and mapping program in
summer 2008 in the Platt Creek area. This work discovered uranium mineralized
sandstone boulders down-ice of the major geophysical target. The Platt Creek
fault is a major regional fault system, which has previously shown high-grade
uranium mineralization in drill holes on the adjacent mineral exploration
property (Black Lake Property owned by UEX/AREVA). The mineralized boulder
samples from summer 2008 work were collected from low swampy ground and are
detailed below in Table 1.
Table 1. Platt Creek Samples: June 2009 Drill area
Sample Location Type Rock Unit Alteration % U3O8
SB044 Platt Creek Boulder Amphibolite Hematite 1.8
TP161 Platt Creek Outcrop Norite Hematite 0.11
RWM593 Platt Creek Boulder Sandstone 0.51
All of the prospecting and drill samples from the Black Lake project were
submitted to Acme Laboratories Vancouver, an ISO 9001:2000 accredited and
qualified Canadian Laboratory, for their Group 4B analysis. These samples were
analysed for uranium and multi-element geochemistry by tri-acid digestion and
ICP-MS. The samples were collected by CanAlaska field geologists under the
supervision of Dr. Karl Schimann, and were shipped in secure containment to
the laboratories noted above. Peter Dasler, M.Sc., P Geo. is the qualified
technical person responsible for this news release.
The Company is fully-funded for current operations and is budgeting for
further extensive summer-fall 2009 exploration programs, through its joint
venture partnerships and from current treasury. Current drilling is
progressing on the Fond du Lac Project, located west of Black Lake. Drill and
assay results from active projects will be provided as they become available
to the Company.
Subsequent to the Company's July 23rd, 2009 News Release regarding its
non-brokered private placement with the MineralFields Group, the Company has
received a request for additional operating information from Mineralfields
prior to formalizing its subscription. Consequently, the date of closing for
the private placement has been extended and the Company will issue a further
news release upon receiving confirmation of MineralFields' subscription.
About CanAlaska Uranium Ltd. -- www.canalaska.com
CANALASKA URANIUM LTD. (CVV -- TSX.V, CVVUF -- OTCBB, DH7 -- Frankfurt)
is undertaking uranium exploration in twenty 100%-owned and two optioned
uranium projects in Canada's Athabasca Basin. Since September 2004, the
Company has aggressively acquired one of the largest land positions in the
region, comprising over 2,500,000 acres (10,117 sq. km or 3,906 sq. miles).
To-date, CanAlaska has expended over Cdn$50 million exploring its properties
and has delineated multiple uranium targets. The Company's geological
expertise and high exploration profile has attracted the attention of major
international strategic partners. Among others, Mitsubishi Development Pty
Ltd, a subsidiary of Japanese conglomerate Mitsubishi Corporation, has
undertaken to provide CanAlaska C$10 mil. in exploration funding for its West
McArthur Project. Exploration of CanAlaska's Cree East Project is also
progressing under a C$19 mil. joint venture with a consortium of Korean
companies led by Hanwha Corporation, and comprising Korea Electric Power
Corp., Korea Resources Corp. and SK Energy Co, Ltd. A Memorandum of
Understanding has also recently been executed with mining partner East
Resources Inc. to commence exploration on the Poplar Project comprising a
potential 100,000 metres of drill testing.
On behalf of the Board of Directors
Peter Dasler, M.Sc., P.Geo.
President & CEO, CanAlaska Uranium Ltd.
The TSX Venture has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release: CUSIPNo. 13708P 10 2. This news
release contains certain "Forward-Looking Statements" within the meaning of
Section 21E of the United States Securities Exchange Act of 1934, as amended.
All statements, other than statements of historical fact, included herein are
forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate, and actual
results and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed in the Company's
documents filed from time to time with the British Columbia Securities
Commission and the United States Securities & Exchange Commission.
For further information:
For further information: Emil Fung, Director & V.P. - Corp. Dev., Tel:
(604) 688-3211, Email: firstname.lastname@example.org